Evening Star Newspaper, October 12, 1929, Page 22

REAL ESTATE. EARNINGS CALLED BASE OF VALUATION Reproduction and Nearby Properties’ Value Held as Worthless by Expert. The wages of elevator operators yet unborn are more fmportant in the ap- praisal of income property than yes- terday's sale of the property next door, according to Preston M. Nolan, Chicago real estate appraiser, who will address the annual convention of the Mortgage Bankers' Association of America in New Orleans on October 29. Unsupported by earnings, the mn'-| ket value of surrounding properties and the reproduction value of the structure being appraised are worth “exactly nothing” in making scientific valua- tions, says Mr. Nolan. The big thing is what the building under good manage- ment can be made to earn, and future taxes. rents and operating expenses are important items that the modern ap- praiser must be able to calculate with mathematical precision, according to this expert. Mr. Nolan, who has made more than 25,000 real estate appraisals, running into billions of dollars, over a period of a quarter of a century, has applied the Bank of England rules to the valuation of commercial property in this country. The scientific English system, which 1s based on earnings, has been in use in Great Britain for three-quarters of a century. “The modern appraiser must do more than a little quick figuring on the back of an envelope,” says Mr. Nolan. “Per- sonal opinions are of little account to- day unless they are backed up with ac- curately tabulated figures and data that cover all the items, factors and condi- tions that might influence the value of the structure being studied.” Property Is Listed In Name of ‘Nobody’; Rights Respected LONDON (#).—~“Nobody” has property rights that are respected in England. Every now and then the efforts HOME BUYERS Weekly Reports of House Sales in Greater Washington. W. H. Whittlesey has purchased the new detached, all-brick dwelling, con- taining eight rooms, three baths and a two-car garage, located at 3914 Liv- ingston street, Chevy Chase. The l%op erty was acquired from E. T. der through the offices of McKeever & Goss and Stone & Fairfax. IR Arthur Stengel of the Department of Agriculture has purc! as his resi- dence a_ reproduction of a Cape Cod Colonial home, located at 1135 clevellnd avenue, Massachusetts Park. ‘This home, built by H. P. Huddleson, con- tains nine rooms and three baths and built-in garage. It is of stone and frame construction. The sale was handled through the office of Jodzies, | Inc. * ok ok X Arthur K. and Alice A. Moore have, purchased the six-room brick dwelling at 3760 Benton street in Glover Park, it is announced by B. H. Gruver, builder. b Martin F. Mitchell has purchased the detached, center-hall, Colonial-type dwelling at 1011 Taylor street northeast from the Michigan Park Manor Co., it is announced by Boss & Phelps, who handled the transaction. The house | contains four bedrooms. * ¥ Roger Scott has bought the dwelling at 639 Lexington place northeast from the Woodside Construction Co., through the office of Mc:(eeve: B: Goss. * Joseph Cook has purchased the now house at 1427 Van Burcn street frcm E. G. Reel, it is reported by McKeever & Goss. This is a nine-room and two- bath brick house. A . Joseph N. Gary has purchased the nine-room and two-bath dwelling at 1742 Lamont street, built by Kennedy Bros,, it is announced by Shannon & Luchs. The property was acquired from Mrs. Vesta L. Watson. LIRS Philip D. Johnson has purchased the Colonial brick dwelling at 3610 Kanawha street, built by McKendrie-Willis, and Sidney Paige, a consulting geologist of | New York City, has purchased the de-) tached cottage at 2911 Thirty-third street, in Massachusetts Park, from E. s. xennedy, Shannon & Luchs report. s Oeorge K. Lyle, a recent graduate of law and employed at the Veterans' Bu- reau, has purchased from Sarah E. THE EVENING STAR, WASHINGTON, D. C. nglish-type residence at 6607 Sixteenth street which has been purchased by Walter H, Newton, seorctary to President Hoover, who formerly was a Bepre- sentative from Minnesota. The property was acquired through the office of McKeever & Goss. son and daughter. It will be occupled shortly by Mr. and Mrs. Newton and their The house contains 11 main rooms and 4 baths. baths and has an attached garage with a den in the second story. Mr. Baker is manager of Station WMAL. o B John T. Gable has purchased from L. E. Breuninger & Sons the dwelling at 1356 Iris street. This is an English- type home of six rooms and two baths and garage. * K k% Harry D. Kizer has purchased from Carl H. Smith, through the office of Boss & Phelps, the semi-detached Colo- nial brick dwelling at 5702 Colorado avenue. - The house contains eight rooms.and two baths. ¥ Sriuiy George N. Thompson has purchased from Walter H. Kilbourne the six-room house at 3717 § strect, a two-story brick dwelling. .The transaction was handled by Boss & Phelps. ¥k v Joseph C. McGarraghy has purchased the new English-type detached dwelling at 6306 Maple avenue, one of the new homes erected by Shannon & Luchs in the forest section of Chevy Chase, Md Shannon & Luchs also report that Ma- ble N. Thurston has purchased from Nelson H. Duval the dwelling at 3912 McKinley street. k£ Flournoy C. Schneider, member of the firm of C. Schneider & Sons, has purchased the brick residence at 1353 Iris street, which contains six rooms, two baths and garage, it is reported by L. B Breumnger a Bons the bulldcls Harold F. Jones hu purchmd fromn L. E. Breuninger & Sons the Dutch Colonial dwelling at 1364 Iris strect. This house is of the center-hall plan and contains six rooms, two baths and garage. * x ok A. R. Lofstrand has purchased from Howard P. Foley the detached brick residence at 3834 Harrison street, it is announced by Shannon & Luchs., The house is of the center-hall plan. * K K % Marguerite Brooks Plummer has pur- chased the dwelling at 3628 S stree: William M. Leaf has bought 3723 S street and Ann Parks Woodliff has pur- chased 3827 S street, all being group houses in Burleith, built by the Shan- non & Luchs Construction Co. W Leo W. Kasegen has purchased the semi-bungalow at 1353 Jefferson street from W. C. & A. N. Miller, it is an- nounced by Boss & Phelps, whieh han- dled the transaction. The house has seven rooms, bath and lavatory. s Communion Scheduled. Services at the Church of the Trans- figuration tomorrcw will be holy com- munion, 7:30 a.m.; morning prayer and sermon, 11 o'clock; evenm‘ prayex. 8 church school, 9 REALTORS WILL STUDY WAYS TO AID SERVICE Methods of Asissting Property Owners to Be Taken Up at Chicago Parley. How service can be rendered to prop- erty-owner members organized within local real estate boards, the most prac- tical methods of making and using real estate vacancy surveys in cities, how the local real estate board can pro- mote business for its individual mem- bers—these are some of the subjects scheduled for discussion at the three- day conference of real estate board secretaries called by the Realtor Sec retaries Division of the National Asso- clation of Real Estate Boards to meet in Chicago, November 21, 22, and 23. “Many of us believe that the real estate business is confronting some rrelt changes in methods by which it must be organized and conducted, as well as changes in the economic field generally,” Herbert U. Nelson, execu- tive secretary of the national associa- tion said in letters to local real estate boards urging the attendance of board secretaries at the conference. “The next five years undoubtedly holrl ater opportunities for useful- for our real estate boards, our Br-lte associations, and our national as- sociations than any five years in the past since realtors began organized endeavor. For this reason it is es- pecially important that real estate board secretaries pool their experi. Detached Brick Residence Electric Refrigerator 3056 Porter Street Cleveland Park SATURDAY, OCTOBER 12, 1929. ences more than ever before, so that we fiun develop policies to meet the situa- lon.” % “HEALING OF WATERS.” Eckington Presbyterian Church Services Announced. Rev. Henry B. Woodlnt. pastor o( the ncnngum Presbyterian Church, North Yltol street, corner of Florida avenue, tomorrow morning at 11 ochck on the theme “The Healing of the Waters.” At the evening service at 8 o'clock one of a serles of two Sunday evening sermons will be given, “Traits of an Ideal Young Man. The monthly meeting of the Ald So- ciety will be held Tuesday evening at 8 o'clock in the Sunday school house. Dinner will be served to the members | and the friends of the church Wednes- day evening from 5:30 to 7 o'clock. The pastor will speak on the Book of the Acts at the midweek service Thurs- day evening. P LA CHAPEL SERVICES. Rev. Irving W. Ketchum will preach at Peck Memorial Chapel tomorrow morning and night. The intermediate department of the Sunday school will meet at 9:45 am. The Cuthbert men'’s class and the Ketchum women’s class The Intermediate service, Wednesday at 8 p.m., will be in charge of the pastor. 4 Bedrooms 2 Tile Baths Slate Roof Built-in Garage Where Can You Find a Home With Better Environment? Seven Rooms Twe Baths Garage Corner Russell Rd. & Linden Ave., Braddock, Va. THE McARN ORGANIZATION Designers & Builders Representative on Property Oil Burner 000000000000 000000000000000000000 See These Homes SUNDAY! Compare these new homes selling at 49,450 and you’ll find the biggest values ever offered in BEAUTIFUL MARIETTA PARK Ezhibit Home 503 Oglethorpe St. (Cor. 5th St. NW.) Open Until 9 P.M. Sonneman, through the office of Austin M. Cooper, the dwelling at 3804 Twenw- fourth street northeast. * ok ok K ‘Walter H. Newton, secretary to Presi- dent Hoover, and former Reprmnhtive from Minnesota, has purchased as Washington residence the new bmk residence at 6607 Sixteenth street. The house is of English design and contains 11 large rooms, four baths and many features of design and equipment. The property was acquired through the office of McKeever & Goss. It will be the residence of Mr. and Mrs. Newton and their son and rllu‘:ht:r.‘ Mubon R. Baker has purchased from Breuninger & Sons the dwelling ll 1361 Iris street, rd Park. The house contains seven rooms and two of county authorities to acquire a piece of land for public purposes disclose that the land is owned by “nobody.” ‘Two plots near Hampton Court recently were discovered to be such “no man's land” when the Surrey County Council tried to buy them, and similar cases have turned up in the older and poorer parts of London. The usual procedure is to have such land valued by a disinter- ested person and the money paid into court by the county council or incorporated town. Then if “nobody” ever shows up he can collect his money, knowing that his rights were looked after while he was gone. Ofen Sunday, 10 to 6 Schwab, Valk & Canby 1704 Conn. Ave. P, Graham & Ogden, Agents 530 King St., Alex., Va. Phone Alex. 1300 313 Woodvnd Bl N-timl 3689 Cl. ot. 0830 Lo AND SECURE ALL THESE FEATURES Southern Exposure Frigidaire 2-Car Garage Colonial Concrete Porches Big Recepiion Halls With Plate Glass Mirror Doors and Enormous Coat Closets Luxurious Tiled Baths Built-in Tub and Shower Pedestal Lavatories Wood-burning Fireplaces Large Living Room Corner Brick Bungalow Facing Beautiful Parks 5738 7th Street N.W. Ideal for a Doctor or a Music Teacher ‘This is one of the prettiest bungalows in Marietta Park, containing six rooms and bath on the first floor, and a large club- room 2732x20 feet on the second floor. The house is modern in every respect, with a built-in bath and shower. Only one block to the new Junior High School and very close to the two street car lines and stores. Screened Breakfast Porch Perfectly Planned Kitchen Oak Floors Throughout Four Big Bedrooms Screened Sleeping Porch i Cedar-lined Closets Paneled Wall Decoration Big Daylight Basements Laundry and Servant’s Toilet in Basement If you want a pretty home, ideally arranged for entertaining, come out Scturday or Sunday and see this well planned bungalow. - Rhode Island Ave. N.E. at 12th Located on a paved street, less than one The Owner will consider taking a small house in trade. HOOKER and JACOB Natl. Press Bldg. Metropolitan 2663 4331 Garfield St. An Example of Effective Treatment 1018 Montana Ave. $9,750 ¢ Open square from car service, close to stores and with a public school nearby, this home offers Very s Rug’ged Picturesquen 2ss many advantages, us, containing 6 bright rooms, also an enclosed sleeping The Outstanding Home Value CHEVY CHASE, D. C. porch, tile bath, hot-water heat and electric lights. Wonderful lot, 50x120, ke with about 30 rosebushes, numerous shrubs : and detached garage. HEDGES & MIDDLETON, INC. K 1412 Eye St. N.W. Fraoklin 9503 % P s ! SRR Consistently Preserved improved Never Again Will You Be Able to Buy Such a Home at This Price ONLY ONE LEFT No Bigger Value Anywhere Marks the Developm_ent of Wesley Beights Twice Consecutively Awarded the Washington , Board of Trade's Diploma of Highest Honors Sunday Realtors hd In marked contrast to speculative pro= motion, Wesley Heights is built into nature and not nature revised to cons ventionality. An Attractive Brick Residence In a Restricted Commuml_v It is the preservation of its rugged beauties that makes possible its incom= pflrflble C}Iarmfl o{ lflnd!clPe .nd .rc}li' tecture. THE inspection of this home by you, we are sure, will reveal every requisite for modern and comfortable home lii situated in a delightful virowment of attrac- tive homes of similar type in a restricted and micely planned residential commu- wity. Schools, churches, transporta- tion and shopping facilities are close at hand. Priced Less Than No tree is ever sacrificed to construee - tion in Wesley Heights. Artistic advan- tage is taken of the rolling ground which mounts to hilltops and slopes into nes- tling valleys—with every home designed for and fining into its selected environ- ment. Miller-built insures not only homes of super-construction but of superior plan- ning and equipment; and with Miller control goes the assurance that what Wesley Heights is todly—Wabhmgton s most sensibly exclusive community—it will continue to be for all time. Exhibit Home 4331 Garfield Street Comgletely Furnished By Dulin & Martin Open for inspection every day and evenlng including Sunday, from 10 A.M. Motor out Massachusetts Avenue, crossing Wiscopsin Avenue and turning left into Cathedral Avenue. W.C. & A. N. Miller Ouwners andDevelopers 1119 Seventeenth Street ‘There won't be any of these avail- able after today at the rate they are selling. Those seeking a moderate priced home of unusual merit will do well to inspect this substantially con- structed m\:{: each with its covered front porch, double rear porches, tiled bath with built-in tub, artistically decorated rooms with paneled walls, oak floors, hot-water heat, built-in garage and attractive shrubbery. Situated on a wide paved street two squares from school, stores and car line and near new Government park. Priced at *6,250 Up $250 Cash $55 Monthly ALL-BRICK HOMES 5509 39th St NW _(West of Conn. Ave.) Between Livingston and Morrison Sts. All brick; 4 large bedrooms, 2 tile baths, Colonial front porch, 2 rear porches, tile garage; in fine shape. Beautiful lot 140 feet deep, with several large shade trees. In the most convenient and desirable section of Chevy Chase. A Real Buy $12,950—Terms OPEN FOR INSPECTION ALL DAY SUNDAY SHANNON - & LUC Exclusive Agents 524 Taylor St N W. The features of this home are too mumerous to men- tion—but it is essemtial for us to say that the house has six (6) bright rooms, bath and fine garage, on paved street and wide alley. Sample House 1508 RIDGE PL. S.E. it tomorrow. DIRECTIONS— % to New Hampshire Ave., to Sth St then left ‘on sth vior St. FBreuningerS Sons 211 Investment Bldg. National 2040 REALTORS \Acmu Navy Yard Bridge to 14th and S—then one block north OPEN SUNDAY AND DAILY, 29 P.M. National Mortg. & Inv. Corp. 1004 Vt. Ave. Decatur 0610